The $ Cad is shown on a four hour candle chart. The formation shown within the red trendlines is a falling wedge which is a bullish pattern. Its sister the rising wedge worked well for me yesterday on the Gpb/Yen. i would like to buy the $ Cad on any weakness down around the 1.0350 level with a stop at 1.0275. This is 75 points of risk . As it is a swing trade with about 200 points of profit potential i will trade this with 1/3 my short term trading size. This means if the trade goes against me i will lose about 25 full points .I favour waiting untill the US open for an entry. I will post when i take a position.
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